Octi: banking AI assistant
Amdocs
2023
This concept is the love child of our amazing generative AI Hackathon team. Each technology behind this concept has been checked with a tech mentor so it’s 100% feasible, based on research, and created with business KPIs in mind. Before we dive in, I want to give credits and a shout out to the amazing people I’ve worked on it with.
The Challenge
Making beneficial financial decisions, especially for significant purchases, requires ample knowledge. Utilizing banking services and credit card offerings can lead to better deals, but many people remain unaware of these options. I dove into different types of research to understnd users and market better.
SURVEY
85.5%
of users compare prices and online offerings before big purchases
75%
check their bank account balance before major
spendings
85.5%
consider loyalty clubs when
selecting financial service providers
User research
Before diving into the concept, it was important to explore how regular people are feeling about the new emerging technology. The users were divided into different generational groups (X,Y,Z), as primary users of banking services. I've researched their usage patterns, fears, and expectations around generative AI.
GEN X
MILLENIALS
GEN Z
MARKET RESEARCH
This is Octi
Octi is your personal Generative AI banking concierge. Human Concierge is a premium - AKA, expensive - service, offered by banks to a selected few. It enables banks to offer the same service to a larger segment of the population, but for free.
Why the octopus? First, octopuses are super smart and they have six arms to multitask. Users have a fear of generative AI, comparing it to a terminator. So we made our Gen AI super cute, not scary.
And this is Bob
Bob is planning a vacation with his husband and two kids. He knows that his dear buddy Octi will help him find the best deal based on his bank account balance, purchasing history, and available credit card deals. And maybe even something extra.
Octi conducts complex voice call to external sources
